Buying new artwork is always an exciting experience. However, no matter how experienced you are, there’s always a lot to consider when making a purchase. This is especially true when large sums of money are involved. Here are suggestions about things you should consider before buying artwork.
Figure Out What You Like
The more educated you are, the better collection you will have. I suggest going to museums and art galleries to familiarize yourself with different periods and styles. This is also where the internet, and specifically Urbane Interior Designs, can be a wonderful resource in figuring out what your taste is and discovering artists you didn’t know existed. Sometimes, you evolve from what you originally thought you liked.
Make Sure It’s a Good Fit
Many first-time buyers fall in love with a piece of art and buy it without thinking about how or where it will fit into their home! We are all for love at first sight, but remember the practicalities. Will the piece physically fit where you want to display it? Will the colors and materials fit in with your interior décor?
Determine What You’re Buying
Are you buying something that you love and you want purely because you think it’s great? Or are you buying something that you love but you secretly want to be an investment? There are different types of purchases in the art world. If you are buying a piece because you love it, it’s much easier. All you have to do is figure out if you can afford it.
If you’re buying with an eye towards investment and you want the art to have long-term value in the future, it’s a little bit more tricky. It’s very important for a first-time collector to know that there are various factors that affect the price of the work. For example, a work on canvas is generally more valuable than a work on paper by the same artist; or if it’s an edition versus a one-of-a-kind piece.
Stick To Your Budget
Budgeting is always a good idea, whatever you’re buying, but it’s even more important when it comes to art. Especially if an emotional connection with a piece leaves you tempted to shell out more than you can afford. Sticking to a solid budget will stop you from straying into dangerous territory!
Understand That Size Does Matter.
You want to be sure that this artwork fits in your apartment or home. I can’t say how many times people I know (especially early collectors) who fall in love with a piece, buy the piece, and then they bring it home and it doesn’t fit over their mantle. You must have a pretty good idea that you have the right wall space for artwork before you buy it.
Remember Hidden Costs
Budgeting is even more important when you take into account the other costs that come with buying art. Extra costs to consider include packing, shipping, insurance and installation – all things you should keep in mind when setting your budget.
Don’t Rush It!
Most importantly, don’t rush into making a purchase. Don’t let yourself be talked into a quick sale, whether by a seller or anyone else giving you advice. If you’re not sure about a piece of art, think about why that is and whether you’ll really want to be looking at it in five or ten years’ time. Great collections take time and careful consideration, so take it slow and choose wisely!
Track Your Purchase.
There should be a clear, traceable path from artist to owner, and it should be documented: save emails, invoices, and receipts. If you eventually want to valuate or sell a work, it’s important to have documentation.
When Buying From a New or Unknown Artist
Check Out Their Background
If you’ve discovered a new artist you love, it’s always a good idea to look into their background. Check where they have exhibited before and what their work normally sells for, as this can give you a better idea of their potential for popularity and value growth.
Look For Quality
When purchasing art from a new or little-known artist, it’s important to make sure the piece is made using quality materials. Poor materials will not age well and can lead to deterioration and depreciation.
Look for Originality
Perhaps most importantly, make sure their style is their own. This can be part of your background research. Take a look at their other pieces and assess whether their style has fully developed or whether it might be worth waiting for later pieces. Make sure the creator isn’t simply imitating another artist or movement.
Go For It!
Once you’ve taken these things into consideration, it’s time to go ahead and start or add to your collection!